Moody Aldrich Partners LLC Sells 157,810 Shares of Verona Pharma plc (NASDAQ:VRNA)

Moody Aldrich Partners LLC reduced its holdings in Verona Pharma plc (NASDAQ:VRNA) by 62.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,942 shares of the company’s stock after selling 157,810 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Verona Pharma were worth $4,409,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC lifted its holdings in Verona Pharma by 70.6% in the third quarter. GAMMA Investing LLC now owns 1,336 shares of the company’s stock valued at $38,000 after buying an additional 553 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Verona Pharma by 25.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,610 shares of the company’s stock valued at $75,000 after acquiring an additional 529 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Verona Pharma in the 3rd quarter valued at approximately $169,000. Marshall Wace LLP acquired a new position in shares of Verona Pharma during the 2nd quarter worth about $195,000. Finally, Claro Advisors LLC bought a new stake in Verona Pharma in the third quarter valued at approximately $209,000. 85.88% of the stock is currently owned by institutional investors and hedge funds.

Verona Pharma Stock Down 1.1 %

NASDAQ:VRNA opened at $53.09 on Wednesday. Verona Pharma plc has a fifty-two week low of $11.39 and a fifty-two week high of $55.91. The firm has a 50-day simple moving average of $44.55 and a two-hundred day simple moving average of $34.52. The company has a debt-to-equity ratio of 0.93, a quick ratio of 12.88 and a current ratio of 13.03.

Verona Pharma (NASDAQ:VRNA) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.12). The business had revenue of $5.62 million during the quarter, compared to analyst estimates of $2.31 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. On average, analysts forecast that Verona Pharma plc will post -1.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VRNA shares. Wells Fargo & Company raised their target price on shares of Verona Pharma from $64.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Canaccord Genuity Group boosted their price objective on shares of Verona Pharma from $37.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $57.00 price objective (up previously from $44.00) on shares of Verona Pharma in a research note on Wednesday, January 8th. HC Wainwright restated a “buy” rating and set a $60.00 price objective (up previously from $42.00) on shares of Verona Pharma in a report on Tuesday, January 21st. Finally, Roth Capital upgraded Verona Pharma to a “strong-buy” rating in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.14.

Insider Transactions at Verona Pharma

In other Verona Pharma news, CFO Mark W. Hahn sold 80,784 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $4.39, for a total transaction of $354,641.76. Following the sale, the chief financial officer now owns 14,293,736 shares in the company, valued at approximately $62,749,501.04. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Zaccardelli sold 94,144 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $4.39, for a total value of $413,292.16. Following the transaction, the chief executive officer now owns 15,204,752 shares in the company, valued at $66,748,861.28. This trade represents a 0.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,225,592 shares of company stock valued at $5,943,314 in the last 90 days. Insiders own 4.80% of the company’s stock.

Verona Pharma Company Profile

Verona Pharma plc, a clinical stage biopharmaceutical company, focuses on development and commercialization of therapies for the treatment of respiratory diseases with unmet medical needs. The company's product candidate is ensifentrine, an inhaled and dual inhibitor of the phosphodiesterase (PDE) 3 and PDE4 enzymes that acts as both a bronchodilator and an anti-inflammatory agent in a single compound, which is in Phase 3 clinical trials for the treatment of chronic obstructive pulmonary disease, asthma, and cystic fibrosis.